Institutional Aspects of the Evolution of Scientific Schools

— The authors of the article explore the institutional factors in the development of scientific schools. Based on the example of the Faculty of Economics of Moscow State University, the authors show the diversity of their historical trajectories. The article identifies the main institutional problems affecting the evolution of such schools, including the problems of adverse selection of universities, high specificity of investment in scientific qualifications, personalization in the context of limited access orders. The authors offer recommendations for the transition from a market to an investment scientific and educational model that contributes to the development of scientific schools.